Members Present

Members Absent

Hugh Greene, Carlo Fassi, Rad Lovett, Oscar Munoz

Item 1 Call to Order

Chair Taylor documented a quorum and called the meeting to order. He noted that there was only one item of business for the day, to review the proposed budget. Chair Taylor clarified that this discussion would recap last year’s budget and provide a summary for the upcoming year, which would be linked to the strategic plan.

Item 2 Discussion on the Budget

Vice President Shuman began the discussion with a budget summary, with notables being that the overall recurring budget increased, even with a reduction in general revenue. But, the carry-forward amount used for nonrecurring priorities decreased.

The budget process was discussed, noting that the controlled spending committee remained in place and the vacancy pool committee continued its review process.

Vice President Shuman talked about three potential budget issues, listing these as (1) Legislative action regarding an employee benefit plan, (2) a legislated reduction in contribution for ORP and Investment Plan participants, and (3) this budget assumes the Board of Governors approves the 15 percent tuition differential.

Vice President Serwatka then provided an overview of UNF’s goals and accomplishments for 2011-2012. He spoke about recognitions and new initiatives for these goals. Vice President Serwatka then discussed how resources were used toward the strategic plan, specifically, increases in distance learning, changing gatekeeper courses to gateway courses, increasing full-time faculty, reducing faculty/student ratio, improving the student profile and increasing retention rates.

Vice President Shuman picked up the discussion with sources and uses, specifically how the 2012-2013 E&G allocation was reached. She spoke about business units/auxiliaries, stating that each fund was reviewed by the committee, making sure reserves and fees were appropriate.

Chair Taylor asked trustees for questions and input regarding this discussion. Trustees spoke about the potential budget issues, asking that updates be provided at the upcoming Board meeting.